Federal Reserve thought there was no crisis in 2007

This is pathetic on so many levels. The Federal Reserve had no clue financial problems were coming in 2007. Yet blogs like Calculated Risk knew exactly what was coming and predicted it accurately. What’s worse, the very same dimbulbs who knew nothing in 2007 are still running the Fed. They should have all been fired.

Federal Reserve officials were largely unaware of the financial crisis brewing in 2007, until they found themselves in the middle of it.